The standard criticism of online lending platforms — non-bank lenders that typically depend on credit markets or individual investors for loan funding — is that they go to pieces in a crisis. The problem is not that the platform’s loans go sour. The platforms sell most of the loans they make and depend on origination fees for revenue.

Today, LendingClub Corporation (NYSE: LC), America's largest online lending marketplace connecting borrowers and investors, officially launched the Member Center, one centralized location where personal loan members can find assistance and support while managing their financial lives through the novel coronavirus (COVID-19).

Hedge funds don't get the respect they used to get. Nowadays investors prefer passive funds over actively managed funds. One thing they don't realize is that 100% of the passive funds didn't see the coronavirus recession coming, but a lot of hedge funds did. Even we published an article near the end of February and […]

Lower investor demand resulted in a tough first quarter for LendingClub (NYSE: LC), which reported a roughly $48 million net loss in the quarter. Loan originations decreased 8% on an annualized basis in the first quarter, while net revenue declined 31% year over year. The company recorded net unrealized losses on loans invested in by the company of almost $102 million, significantly higher than the roughly $35 million in unrealized losses it recorded in Q1 2019.

NEW YORK, NY / ACCESSWIRE / May 5, 2020 / LendingClub Corp. (NYSE:LC) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on May 5, 2020 at 5:00 PM Eastern Time. ...

LendingClub Corporation (NYSE: LC), America's largest online lending marketplace connecting borrowers and investors, announced that it will report earnings for the first quarter 2020 on Tuesday, May 5, 2020, after market hours.

The Federal Reserve’s new version of 2008’s Term Asset-Backed Securities Loan Facility will help companies struggling in the Covid-19 recession. But the program needs an upgrade to reflect the new economy, according to people in structured finance and private equity, as well as attorneys tracking the program.

FEATURE It has been more than 21 years since a Barron’s cover story crowned Mary Meeker “Queen of the Net,” and she’s still sitting on the throne. When that story ran in December 1998, Meeker was the Internet analyst at Morgan Stanley.

By agreeing to acquire Boston-based Radius Bank, LendingClub Corp. is seeking to snatch up a coveted bank charter, potentially making it the first U.S. financial services technology company to be able to collect deposits and do all the other things a bank can do. But there are other benefits to buying Radius, too, LendingClub CEO Scott Sanborn said in a recent interview. Namely, he’s eager to use Radius’ Boston headquarters as a base to snag technology talent and other types of workers in the region.

LendingClub Corporation (NYSE: LC), America's largest online lending marketplace connecting borrowers and investors, today announced that is has selected Annie Armstrong to serve as the company's Chief Risk Officer (CRO). At the same time, the company announced that the current CRO, Tim Bogan will take on a new role as Chief Banking Integration Officer to focus on the planning, process, systems, and organizational design work necessary to complete LendingClub's acquisition of Radius Bank as announced on February 18. Armstrong will join on March 16 and will transition in partnership with Bogan until formally assuming the role on July 1.

David Ellison, a money manager for financial company stocks, says LendingClub’s acquisition of a regulated bank is a good move for the fintech. “I wouldn’t own the stock,” said Ellison of Hennessy Funds, which oversees $4.8 billion in assets. LendingClub’s purchase of Radius Bank for $185 million is likely to add revenue and provide stability.

San Francisco-based LendingClub said Tuesday it will buy the parent of Radius Bank, marking the first time a U.S. fintech is acquiring a bank. LendingClub said the purchase of Boston-based Radius in a cash-and-stock deal valued at $185 million will allow the fintech to expand its market, increase and diversify its earnings and provide regulatory clarity. The acquisition will also boost LendingClub’s resiliency through economic cycles by providing a low-cost source of funds through bank deposits.

LendingClub Corporation (NYSE:LC), America's largest online lending marketplace connecting borrowers and investors, today announced that it has signed a definitive agreement to acquire Radius Bancorp, and its wholly owned subsidiary Radius Bank, (together "Radius") recently voted the nation's best online bank1 in a cash and stock transaction valued at $185 million. Combining Radius and LendingClub will create a digitally native marketplace bank at scale with the power to deliver an integrated customer experience, enabling consumers to both pay less when borrowing and earn more when saving.

LendingClub Corporation (NYSE: LC), America's largest online lending marketplace connecting borrowers and investors, today announced financial results for the fourth quarter and full year ended December 31, 2019.

Moody's Investors Service has assigned definitive ratings to the notes issued by Consumer Loan Underlying Bond (CLUB) Credit Trust 2020-P1 (CLUB 2020-P1), the first marketplace lending transaction issued from the CLUB platform this year. The ratings are based on the quality of the underlying collateral and its expected performance, the strength of the capital structure and fast amortization of the assets, and the experience and expertise of LendingClub as servicer and the back-up servicing arrangement with Vervent, Inc. (Vervent, unrated). At closing the Class A notes, Class B notes are expected to benefit from 35.53% and 24.22% of hard credit enhancement, respectively.